Binary options have become one of the preferred trading directions in the non-banking financial sector. When compared to Forex, they are easier to understand and require no actual purchase. Binary options walk a fine line between gambling and trading. To be able to stand a chance of winning on the market, one needs the full support of the broker. Besides your commitment, your broker can carve the success path for your trading career. 24option is one of the brokers that boosts your trading and gives you the necessary means for fair trading. This 24option review breaks down all the important information about 24option and their service.
- Managed by experienced professional
- Webinars, educational resources (for free)
- Suitable trading platform
- Efficient and multilingual customer support
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- Demo account requires a deposit
- Fees on withdrawals
Who is 24option?
24option joined the market officially in 2010 as a wing of Rodeler Limited. This broker company was established by a group of experts who dealt with Forex, securities, etc., laying down stable grounds for the broker company. 24option is regulated by the reputable CySEC and the Cyprus Investment Firm (CIF). These are the two powers behind the curtains that make sure that 24option stays loyal to its clients, offers the best service in their power, and stays in line with the law. This gives clients security to join the broker with no hesitation.
TechFinancials is the running platform of 24option. This platform made quite a name in the binary options market and counts to the most reliable platforms. With a convenient interface, smooth performance, powerful software, and extra features, it is the favorite platform of many. Given that mobile trading is one of the essential parts of the business, 24option offers the 24option TechFinancials mobile apps for download. Use your smartphone device to make some money and download this app for free.
Types of Accounts with 24option
24options offer the “golden middle” with three accounts, besides the Demo account.
- The standard trading account is for the so- called “middle traders” who have some experience, but are not at pro-level yet,offering all the features necessary for smooth trading.
- The Gold account offers, in addition, an extra 2% return on every trade which is the reason many decide to register with this account.
- The Platinum account offers various features and extras including touch options, high-yield boundary, latest market updates, as well as personal educational trainings.
24option take pride in their diversity of assets, with some of the most popular being: BMW stocks, Google stocks, silver, gold, etc. 24options offers also the Close Early option which allows traders to change their minds if they see that they are on a losing path. Simply, they can pull out of a trade before the expiry date and get a portion of their investment back. Expiry dates refer to the different timeframes and limits set on trades. Binary options distinguish between short and long-term expiry dates. Traders can enter trades as short as 30 seconds. Long-term trades refer to daily, weekly, and monthly offers. Even if some brokers offer annual expiry dates, this business rather relies on short-term trades. This broker is also known for a pretty high investment return rate,which can reach as high as 82%.
Deposits and Withdrawals
Besides wire transfer, can may deposit and withdraw via Visa, Master Card, PerfectMoney, Skrill, OKAYPAY, Discover, JCB, etc.
- No fees are incurred on the first deposit and first withdrawal.
- Bank transfers require a $30 fee.
- A minimum of $100 is required to issue a withdrawal request (excluding Skrill, where there is no minimum).
- The withdrawal usually takes 3-4 days, or up to 7 days if requested via bank transfer.
If you sign up with the Gold account you can withdraw funds free of charge on a monthly basis. This means that you can make a withdrawal request for free. If you should withdraw more than one time within the same month, a fee will be applied. Premium account users are better off regarding withdrawals. Namely, they are able to conveniently withdraw funds anytime without paying any fees or commissions. It is not that uncommon that binary options traders require a fee on withdrawals. In fact, if compared to Forex brokers who seldom charge a withdrawal fee, we could say that it is quite often the case.
From time to time there is a sign-up bonus provided as a part of a welcome. The bonus amount depends on the account type you sign up with. The bonus can range from a 30% to a 100% bonus. The minimum deposit with 24option is $250. Other promotions are also part of the 24option package, like holiday bonuses or additional deposit bonuses (only when the market is highly volatile).
In order to withdraw the bonus, traders must trade 30 times the amount of their initial investment.
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The 24option customer support is available 24/7 via e-mail, live chat and phone including foreign countries. The multilingual customer support can be reached in 21 languages like French, German, Spanish, Italian, etc. Call the customer support and make your own decision about the staff efficiency with this broker.